Click here to close now.




















Welcome!

News Feed Item

U.S. Foreclosure Activity Decreases 1 Percent in March Despite 4 Percent Increase in Bank Repossessions

Bank Repossessions Increase From Year Ago in 16 States, Including NY, NJ, IL, CA; Highest State Foreclosure Rates in Florida, Maryland, Delaware, Indiana, New Jersey

IRVINE, CA -- (Marketwired) -- 05/15/14 -- RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released its U.S. Foreclosure Market Report™ for April 2014, which shows foreclosure filings -- default notices, scheduled auctions and bank repossessions -- were reported on 115,830 U.S. properties in April, a 1 percent decrease from the previous month and down 20 percent from April 2013. The report also shows one in every 1,137 U.S. housing units with a foreclosure filing during the month.

Despite the decrease in overall foreclosure activity, bank repossessions in April increased 4 percent from the previous month, although they were still down 14 percent from a year ago. There were a total of 30,056 bank repossessions nationwide in April.

Bank repossessions increased from the previous month in 26 states and were up from a year ago in 16 states, including New York (142 percent increase), Oregon (91 percent increase), New Jersey (58 percent increase), Illinois (55 percent increase), Indiana (52 percent increase), Maryland (45 percent increase), Connecticut (44 percent increase), California (27 percent increase), and Nevada (15 percent increase).

"The rise in bank repossessions in many states is a sign that those markets are working through the final remnants of foreclosures left over from the recent housing crisis," said Daren Blomquist, vice president at RealtyTrac. "Many of these bank-owned homes are bottom-of-the-barrel properties in terms of location or condition, but they will provide some much-wanted inventory of homes for sale in some markets in the coming months. Investors and other buyers willing to do more extensive rehab will likely be best-suited for these incoming REOs."

Scheduled foreclosure auctions down nationally, up from year ago in 17 states
A total of 49,239 U.S. properties were scheduled for a future foreclosure auction in April, down 3 percent from the previous month and down 21 percent from a year ago -- the 41st consecutive month where scheduled foreclosure auctions decreased annually.

"Foreclosure activity continues to dwindle in Southern California as home prices increase and the banks work through ridding housing inventory that is more difficult to sell," said Chris Pollinger, senior vice president of sales at First Team Real Estate, covering the Southern California market.

Scheduled auctions increased from the previous month in 22 states and were up from a year ago in 17 states, including Oregon (up 229 percent), Utah (up 101 percent), Colorado (up 87 percent), New Jersey (up 73 percent), Alabama (up 25 percent), New York (up 25 percent), and Florida (up 8 percent).

Foreclosure starts down nationally, up from a year ago in 16 states
A total of 54,613 U.S. properties started the foreclosure process in April, down 2 percent from the previous month and down 22 percent from a year ago -- the 21st consecutive month where U.S. foreclosure starts decreased annually.

"Foreclosure activity continues to decrease, becoming an insignificant part of the overall housing market," said Sheldon Detrick, CEO of Prudential Detrick/Alliance Realty, covering the Oklahoma City and Tulsa, Okla., markets. "In my markets we are back to pre-recession home values. This appreciation is occurring in spite of the fact that closed transactions are down 1 percent compared to last year."

Foreclosure starts, which are scheduled auctions in some states, increased from the previous month in 26 states and were up from a year ago in 16 states, including Massachusetts (up 101 percent), Indiana (up 60 percent), New Jersey (up 15 percent), and Wisconsin (up 13 percent).

Florida, Maryland, Delaware post top state foreclosure rates
Florida foreclosure activity decreased 9 percent from a year ago in April, but the state still posted the nation's highest foreclosure rate for the seventh consecutive month. One in every 400 Florida housing units had a foreclosure filing during the month, nearly three times the national average.

Maryland foreclosure activity increased from a year ago for the 22nd consecutive month in April, helping the state maintain the nation's second-highest foreclosure rate for the third consecutive month. One in every 624 Maryland housing units had a foreclosure filing during the month.

Delaware foreclosure activity increased 8 percent from a year ago in April, giving it the nation's third-highest state foreclosure rate for the month: one in every 657 housing units with a foreclosure filing. Delaware foreclosure activity has increased on an annual basis in 11 of the last 14 months.

Indiana foreclosure activity in April increased 13 percent from a year ago -- the second consecutive month with an annual increase in foreclosure activity -- and the state posted the nation's fourth highest foreclosure rate for the month: one in every 681 housing units with a foreclosure filing.

New Jersey foreclosure activity in April increased 29 percent from a year ago -- the fifth consecutive month with an annual increase in foreclosure activity -- and the state posted the nation's fifth highest state foreclosure rate for the month: one in every 700 housing units with a foreclosure filing.

Other states with foreclosure rates ranking among the top 10 were Illinois (one in every 706 housing units with a foreclosure filing), Ohio (one in every 750 housing units), Nevada (one in every 770 housing units), Connecticut (one in every 887 housing units), and South Carolina (one in every 890 housing units).

Florida cities account for 11 of top 20 metro foreclosure rates
Eleven of the 20 highest foreclosure rates in metropolitan statistical areas with a population of 200,000 or more were in Florida, led by Orlando at No. 1. One in every 289 Orlando housing units had a foreclosure filing in April, nearly four times the national average.

Other Florida cities with top 10 foreclosure rates were Deltona-Daytona Beach-Ormond Beach at No. 2 (one in every 306 housing units with a foreclosure filing); Miami-Fort Lauderdale-Pompano Beach at No. 3 (one in every 345 housing units); Jacksonville at No. 4 (one in every 368 housing units); Tampa-St. Petersburg-Clearwater at No. 5 (one in every 388 housing units); Palm Bay-Melbourne-Titusville at No. 6 (one in every 402 housing units); Lakeland at No. 9 (one in every 452 housing units); and Sarasota-Bradenton-Venice at No. 10 (one in every 460 housing units).

Other metro areas with foreclosure rates ranking among the top 10 were Atlantic City, N.J. at No. 7 (one in every 426 housing units with a foreclosure filing); and Rockford, Ill., at No. 8 (one in every 430 housing units).

Other major metros with foreclosure rates among the top 20 were Chicago at No. 15 (one in every 550 housing units with a foreclosure filing); Trenton, N.J. at No. 16 (one in every 566 housing units); Cleveland at No. 17 (one in every 572 housing units); Riverside-San Bernardino in Southern California at No. 18 (one in every 573 housing units); and Columbus, Ohio, at No. 20 (one in every 574 housing units).

Report methodology
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month -- broken out by type of filing. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac's report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee's Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). The report does not count a property again if it receives the same type of foreclosure filing multiple times within the estimated foreclosure timeframe for the state where the property is located.

Report License
The RealtyTrac U.S. Foreclosure Market Report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.

Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. For more information please contact our Data Licensing Department at 800.462.5193 or [email protected].

About RealtyTrac
RealtyTrac is a leading supplier of U.S. real estate data, with nationwide parcel-level records for more than 125 million U.S. parcels that include property characteristics, tax assessor data, sales and mortgage deed records, Automated Valuation Models (AVMs) and 20 million active and historical default, foreclosure auction and bank-owned properties. RealtyTrac's housing data and foreclosure reports are relied on by the Federal Reserve, U.S. Treasury Department, HUD, numerous state housing and banking departments, investment funds as well as millions of real estate professionals and consumers, to help evaluate housing trends and make informed decisions about real estate.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...